"Visa again delivered a strong quarter of revenue and earnings driven by success across our global franchise," Chief Executive Charlie Scharf said in a statement.

Scharf, a former head of JPMorgan Chase & Co's (JPM.N) retail financial services division, took over as chief executive in November.

Smaller rival MasterCard Inc (MA.N) reported better-than expected results last week. MasterCard also doubled its quarterly cash dividend on Tuesday and said it would buy back up to $2 billion of its Class A shares.

Visa said it expects annual net revenue growth in the low double-digits and adjusted Class A earnings per share growth in the high-teens for 2013.

The company expects annual operating margin of about 60 percent.

Shares of the company closed at $160.82 on the New York Stock Exchange on Wednesday.

(Reporting by Jochelle Mendonca; Editing by Sriraj Kalluvila)

Trending On Reuters

Markets

The BSE Sensex posted its worst monthly fall in more than two years, raising concerns a strong rally that saw indexes surge in the fiscal year was waning due to concerns about stock valuations and a more gradual economic growth. Full Article